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Commodore Capital Portfolio holdings

AUM $1.68B
1-Year Est. Return 375.52%
This Fund
S&P 500
This Quarter Est. Return
+63.8%
1 Year Est. Return
+375.52%
3 Year Est. Return
+2,120.72%
5 Year Est. Return
+8,694.03%
10 Year Est. Return
–
AUM
$1.5B
AUM Growth
-$546M
Cap. Flow
-$1.03B
Cap. Flow %
-68.8%
Top 10 Hldgs %
55.82%
Holding
43
New
6
Increased
4
Reduced
12
Closed
10

Top Buys

Rank Stock Value
1
ANRO icon
Alto Neuroscience
ANRO
+$23M
2
PALI icon
Palisade Bio
PALI
+$22M
3
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$21.4M
4
ALKS icon
Alkermes
ALKS
+$13.6M
5
REPL icon
Replimune Group
REPL
+$12.1M

Top Sells

Rank Stock Value
1
MRUS
Merus
MRUS
+$332M
2
COGT icon
Cogent Biosciences
COGT
+$142M
3
TERN
Terns Pharmaceuticals
TERN
+$97.6M
4
AGIO icon
Agios Pharmaceuticals
AGIO
+$93.9M
5
NUVL
Nuvalent
NUVL
+$83.8M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SABS icon
26
SAB Biotherapeutics
SABS
$318M
$16.5M 1.1%
4,401,500
– –
REPL icon
27
Replimune Group
REPL
$1.21B
$13.9M 0.92%
+1,425,000
New +$12.1M
IKT icon
28
Inhibikase Therapeutics
IKT
$321M
$11.1M 0.74%
5,397,488
– –
CTNM
29
Contineum Therapeutics
CTNM
$497M
$9.33M 0.62%
+816,326
New +$9.31M
AVTX icon
30
Avalo Therapeutics
AVTX
$895M
$8.77M 0.58%
483,000
– –
RAPT
31
DELISTED
RAPT Therapeutics
RAPT
$8.47M 0.56%
+250,000
New +$7.76M
LONA
32
LeonaBio Inc
LONA
$65.5M
$3.52M 0.23%
+464,398
New +$2.13M
DRUG
33
Bright Minds Biosciences
DRUG
$604M
$1.47M 0.1%
18,851
-481,149
-96% -$32.2M
AGIO icon
34
Agios Pharmaceuticals
AGIO
$2.01B
– –
-2,338,287
Closed -$93.9M
APGE
35
DELISTED
Apogee Therapeutics
APGE
– –
-290,000
Closed -$11.5M
CDTX
36
DELISTED
Cidara Therapeutics
CDTX
– –
-585,000
Closed -$56M
ENTA icon
37
Enanta Pharmaceuticals
ENTA
$365M
– –
-800,000
Closed -$9.58M
CBIO
38
Crescent Biopharma
CBIO
$623M
– –
-450,829
Closed -$5.36M
MRUS
39
DELISTED
Merus
MRUS
– –
-3,525,000
Closed -$332M
TNGX icon
40
Tango Therapeutics
TNGX
$3.96B
– –
-1,500,000
Closed -$12.6M
VRDN icon
41
Viridian Therapeutics
VRDN
$2.48B
– –
-3,200,000
Closed -$69.1M
VTGN icon
42
VistaGen Therapeutics
VTGN
$10.4M
– –
-1,575,000
Closed -$5.59M
PCSC
43
DELISTED
Perceptive Capital Solutions
PCSC
– –
-750,000
Closed -$7.92M
1
2

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Commodore Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Commodore Capital held 43 positions worth $1.5B, down 27% from $2.05B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Commodore Capital withdrew a net $1.03B in Q4 2025, closing 10 positions and reducing 12 holdings. Its most notable exit was Merus, an estimated $332M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier, followed by Financials.

Against the trend, Commodore Capital opened a new position in Alto Neuroscience worth $32.5M.

  • Commodore Capital's largest Q4 2025 buy was Alto Neuroscience: 1,823,196 shares worth $32.5M.
  • Commodore Capital added most to Amylyx Pharmaceuticals in Q4 2025, an estimated $21.4M increase.
  • Commodore Capital's biggest Q4 2025 reduction was Cogent Biosciences, cutting an estimated $142M.
  • Commodore Capital fully exited Merus in Q4 2025, selling an estimated $332M.
  • Commodore Capital's ten largest holdings make up 56% of its $1.5B portfolio in Q4 2025.
  • Commodore Capital opened 6 new positions and closed 10 in Q4 2025.
  • Commodore Capital's portfolio value fell 27% quarter-over-quarter to $1.5B.

Based on Commodore Capital's 13F filing for Q4 2025, filed 17 Feb 2026.